As much as they advertise, cash for gold stores have high overhead costs to maintain, so the chances are great that you are not going to receive the absolute best price for your gold. Whether you are looking for cash back for gold in Indianapolis, IN or somewhere else, you almost are 100 percent better off going to a collector to sell. Why?
One of the many reasons for this is because most gold stores have extremely high overhead costs to maintain, so they are not able to give people the very best price for gold. The fact of the matter is, now is the time to sell gold because dealers are paying all-time highs for this element. When you think about it, it really is as easy as selling an old piece of jewelry or something that’s taking up space in your attic. Selling to a collector means getting a great price per ounce and walking away satisfied after your transaction. Below are few tips you should consider when selling gold:
Know your karats: When dealing with pure gold, you should be well aware of the fact that pure gold is often paired or combined with other metals to create more color or durability because pure gold is so soft. The Federal Trade Commission (FTC) deems this to be so important that it requires all jewelry that is sold in the U.S. to express a karat fineness of the alloy. An example of this is that one karat equals 1/24 of pure gold by weight.
Understand the value: Always make it a point to double check what the current market price is for gold before you sell it. This simply means just checking an online source or calling a jewelry store. Don’t sell your gold for less than it is worth, even if you are strapped for the cash at the time.
Understand the scales: As you probably already are aware of, the weight of gold is a big factor in helping to determine its value. One thing, however, that you might not be aware of is the fact that jewelers incorporate a different measurement scale called the Troy ounce. This scale measures gold at 31.1 grams per ounce compared to the typical U.S. scale in which 28 grams make an ounce.
Understand what you are selling: If you own a gold bracelet or necklace that comes from a well-known maker or designer, there is a good chance that you will want to sell it as is, as opposed to melting it down.
Shop around: Like so many other things in life, you are better off fielding a few different offers for your gold as opposed to settling for the first one that comes around. You likely should consider taking it a step further and having the piece appraised before selling cash for gold in Indianapolis, IN. You might be surprised at the disparity in price you get from a cash for gold store versus a private gold buyer or collector.